
Floriland Office Center
Floriland Medical/Retail/Office Center | Tampa, FL | 9.50% CAP
Marketing description
RMC is pleased to offer for sale the Floriland Office Center, a 161,060 square-foot property located in Tampa, FL. Floriland is centrally located at the NEC of E Busch Blvd and N Florida Ave and adjacent to I-275, offering easy access to downtown Tampa, Tampa International Airport, and University of South Florida (USF). This offering provides investors with an attractive value-add opportunity as a result of several units that are subject to a lease termination right held by the current anchor tenant named Ultimate Medical Academy (UMA). UMA currently leases six (6) units encompassing 117,988 sf. UMA holds a termination right in its lease that needs to be exercised by 8/31/2025. UMA is anticipated to exercise its termination rights on five (5) of its existing units totaling 92,425 sf. UMA will continue to operate unit #100 (25,563sf) and per the terms of the lease, UMA will continue to pay rent until 8/31/2026 on any space that it exercises its termination rights on. This structure offers a prospective buyer a one-year rental income stream while releasing the units subject to UMA’s termination right. The units that UMA plans to vacate are in excellent condition and lease ready.
Investment highlights
161,060 square-foot property located in Tampa, FL
Floriland is centrally located at the NEC of E Busch Blvd and N Florida Ave and adjacent to I-275
Offering easy access to downtown Tampa, Tampa International Airport, and University of South Florida (USF)
Approximately 11.41 acres of land fronting E Busch Blvd and N Florida Ave in Tampa
The property is conveniently located in a dense and affluent sub market that contains a population of more than 357,708 and a household income of over $85,068 within a 5-mile radius.
The Center features two multi tenant pylon signs along I-275
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